BlueFive Capital Launches BlueFive Insurance to Consolidate the Fragmented Insurance Sector
The Tunisian investment group BlueFive Capital has reached a new milestone with the launch of BlueFive Insurance, a "buy & build" platform aimed at consolidating the fragmented insurance sector in the Global South. According to Hazem Ben-Gacem, founder and CEO, this initiative will start in Saudi Arabia and then rapidly expand to other GCC countries (Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Bahrain, and Oman) and Southeast Asia.
A Fragmented and Underinvested Market
Hazem Ben-Gacem notes that the insurance market in Gulf countries remains fragmented and underinvested. "In 80% of cases, premiums are transferred to foreign reinsurance groups, resulting in a flight of regional capital," he explains. With BlueFive Insurance, the goal is to break with this practice by collaborating closely with regulators, sovereign institutions, and local shareholders to build a modern, high-performance, and integrated insurance ecosystem within the group's asset management.
A Strategic Pillar for BlueFive Capital
For the CEO, this initiative is a strategic pillar for BlueFive Capital and reinforces its position as an innovative financial player with rapid growth, originating from the GCC. BlueFive Insurance is set to play a key role in the group's expansion and consolidation of the insurance sector in the region.
Key Points:
- BlueFive Insurance is a "buy & build" platform launched by BlueFive Capital
- The platform aims to consolidate the fragmented insurance sector in the Global South
- The initiative will start in Saudi Arabia and expand to other GCC countries and Southeast Asia
- The insurance market in Gulf countries is fragmented and underinvested, with 80% of premiums transferred to foreign reinsurance groups
- BlueFive Insurance will collaborate with regulators, sovereign institutions, and local shareholders to build a modern and integrated insurance ecosystem.
